Tom Petters

For the management expert, see Tom Peters.
Tom Petters
Born (1957-07-11) July 11, 1957
St. Cloud, Minnesota, U.S.
Occupationformer CEO of Petters Group Worldwide
Criminal statusPrisoner #14170-041 in United States Penitentiary, Leavenworth
ChildrenOne daughter, three sons
Convictions10 counts of wire fraud
3 counts of mail fraud
1 count of conspiracy to commit mail and wire fraud
1 count of conspiracy to commit money laundering
5 counts of money laundering
Criminal penalty50 years in prison

Thomas Joseph Petters is a former American businessman and chairman and CEO of Petters Group Worldwide, a company which stole over $2 billion in a Ponzi scheme. He was convicted of massive business fraud in 2009 and was imprisoned at the United States Penitentiary, Leavenworth. Amid mounting criminal investigations, Petters resigned as his company's CEO on September 29, 2008. He was convicted of numerous federal crimes for operating Petters Group Worldwide as a $3.65 billion Ponzi scheme and received a 50-year federal sentence.

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